Ambassador of Argentina, Rodolfo J Martin-Sarvain has informed that he has approached his government to donate sunflower seed, which would be distributed among flood affected farmers in Pakistan. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) and later talking with newsmen on Monday, he said that distribution of sunflower seed will help farmers to resume their normal activities in shortest possible time.
He said that Argentina also providing assistance for flood affected people to rehabilitate them. He said that Argentina business community is interested to further expand trade relations with Pakistan and establish joint venture in different sector including CNG.
Argentina has expertise in edible oil, iron, steel, CNG, pharmaceutical products, chemicals etc and Pakistan offers lots of investment potential in these sectors. Argentina ranks first among CNG users in the world and it is the major producer and exporter of CNG cylinders, car kits, CNG station compressors and dispensers.
The ambassador stated that a delegation of Argentina comprises of CNG cylinders, CNG compressors, pumps for liquid petroleum gas (LPG) and generators manufacturers and exports is already in Pakistan and participating in CNG conference going on in Karachi.
Argentina is also interested in promoting the collaboration with Pakistan in the meat sector. Argentina intends to establish two to three meat processing plant, which will help to produce hygienic meat and help boost its export.
Several private companies of Argentina are working or dealing with Pakistan. Probably the most important at the moment is a pharmaceutical company BAGO S.A. that in Joint Venture with Ferozsons Laboratories have invested for the construction of a Biotechnological Pharmaceutical Plant for manufacturing medicines for cancer and Hepatitis B and C treatment.
Rodolfo J Martin-Sarvain informed that another delegation of Argentine company, Argentoil S A of CNG cylinder manufactures will visit Pakistan soon to discuss possibility of having units in joint venture with Pakistani interested parties. Argentina is very much interested in extending co-operation in the agri-sector. Bio-energy, animal vaccines laboratories, horticulture, sunflower seed, sugarcane production could be some of the major areas of co-operation between the two countries.
Referring to Argentina investment in Pakistan, he said that his country investing in modernising and expansion of Poly-Clinic Islamabad. He said that the Prime Minister has granted NOC for expansion of Poly Clinic. It will have 1000 beds. Replying to a question about balance of trade which is in favour of Argentina, he thought that Pakistani businessmen have not done their homework to capture existing opportunity to boost trade with Argentina.
President KCCI, Mohammad Saeed Shafiq hoped that bilateral trade volume will increase significantly and would enhance Pakistan's exports to Argentina as currently bilateral trade between the two countries stood at 161.06 million dollars and is in favour of Argentina. Imports from Argentina stood at 119.40 million while Pakistan exports are merely at 42 million dollars.